6 Best Money Transfer Services To Send Money Internationally

International Money Transfer Services

Finding the best money transfer services in the US can be challenging. Especially when transfer fees and charges to various worldwide destinations aren't obvious.  Don't worry, we’ve done the hard work for you and shared the top companies below, together with a quick overview and their advantages and disadvantages. We reviewed over 30 banks and online money transfer companies to give you our list of the best service to send money overseas.

Best Overall Online Service

Great overall online international money transfer company

With a 9.1/10 rating on TrustPilot and positive reviews, Wise (formerly known as TransferWise) is a strong service for online money transfers. It's a great option if you want a hassle-free and low cost way to send money overseas. They offer an easy to use online service and mobile app and are ideal for sorting out your international money transfer straight away.

Wise also offers you the best exchange rates — identical to the base, interbank rate. They then charge a small, percentage-based service fee. In comparison after comparison, Wise are either the top, or in the top three best priced currency exchange company.

Want to learn more about Wise? Click here for our full review.

  • It’s very fast and easy to create an account.
  • Their service charge is low, fees and pricing are transparent.
  • You can pay via bank transfer, credit or debit card.
  • There’s no minimum transfer size.
  • Can't pay for your transfer via cash or cheque.
  • There’s limited customer support, interact only by email or through their website.
  • If you’re transferring over $40,000, their service charge can make them less competitive.
  • They don’t support all global currencies.

Is there any great fee free money transfer service?

After 20 years, OFX is one of the oldest money transfer companies and they have the expertise to go with it. OFX pride themselves on trying to take the mystery out of foreign exchange and offering rates that are better than the banks. They do transfers from over 190 countries in more than 55 currencies, but are especially good for sending money to the UK or Australia. OFX recently removed all flat fees for US customers and only make money from currency exchange rates.

Want to learn more about OFX? Click here for our full review.

  • Well-established brand and safe service.
  • No flat fees for US customers.
  • Their rates are often better than the banks, especially for larger transfers.
  • 24/7 phone support.
  • They have a minimum transfer amount of US1,000.
  • Receiving or intermediary banks may charge fees on transactions.

Looking for the best money transfer exchange rates?

As we’ve suggested, Wise (formerly known as TransferWise) gives you the most competitive exchange rates of all, because the rates they offer are identical to the base or market exchange rate. In other words, you won’t find a better exchange rate anywhere, which is awesome.

Instead of offering you a bad exchange rate, Wise simply charge a small, percentage-based service fee. Even with this fee though, they’re consistently better priced than pretty much any other international money transfer service.

Want to learn more about Wise? Click here for our full review.

  • They offer the best exchange rates available.
  • It’s very fast and easy to create an account.
  • They’re loved by customers, scoring 9.1/10 on Trustpilot.
  • You can pay via bank transfer, credit or debit card.
  • There’s no minimum transfer size.
  • Can't pay for your transfer via cash or cheque.
  • There’s limited customer support, interact only by email or through their website.
  • If you’re transferring over $40,000, their service charge can make them less competitive.
  • They don’t support all global currencies.

Looking for the best instant funds transfer company?

Remitly is an online money transfer company that focuses on remittances. They're especially good for transfers to countries like India, Vietnam and the Philippines, and regions in other parts of Asia, Africa and South America.

Remitly pride themselves on being able to transfer money quickly and conveniently.

Want to learn more about Remitly? Click here for our full review.

  • Website is easy to use, and you can set up an account very quickly.
  • Remitly has competitive rates, and a lot of the time these will be better than what you'd find a your bank.
  • They don't have a minimum amount you can transfer.
  • 24/7 support available in nearly 20 countries worldwide.
  • Can easily get an accurate quote for your transfer using their online calculator.
  • Maximum transfer sizes apply for most currencies.
  • Don't offer foreign currency accounts or digital wallets
  • Their transfer fee is not fixed, so it can change between different currencies.
  • Remitly are unable to offer financial advice.
  • Not all transfer methods are available in all countries. For example, there's no cash pick up when you send money to Canada.

What’s the safest money transfer company?

The overall XE business has been around since 1993, so they know a thing or two about sending money overseas! Not only are they a well-established brand, they are also one of the biggest and most trusted international money transfer companies with a 9.3/10 rating on TrustPilot. They are completely regulated and have correct licenses in every country they operate in.

In addition to their money transfer service, XE offers a wealth of reliable information on exchange rates, including currency price history, news and more. XE Money Transfer don’t charge a fee for sending money, instead they make a profit by offering you a slightly worse exchange rate than the base rate.

Want to learn more about XE Money Transfers? Click here for our full review.

  • XE are a worldwide, trusted authority for currency exchange.
  • No additional fees for sending money overseas.
  • There’s no minimum transfer amount.
  • It’s easy to use their customer service.
  • Their website is quick and easy to use.
  • You can’t pay for your transfer using cash or a cheque.
  • There’s limited customer support over the weekend.
  • They don’t support all global currencies.

Looking for the best bank for international money transfers?

CitiBank is your best choice to exchange currency if you want to make an international wire transfer through a bank. Even though their fixed fee ($25) for a transfer is higher than many competitors, they offer much better exchange rates than other banks. This means that as long as you’re transferring a decent amount (say, more than $1,000 USD) your money will go further than with most other high street banks.

While banks can be convenient, we still suggest you look at alternatives, so you can save money.

  • It’s easy to send money internationally to another bank account or to Citibank accounts.
  • CitiBank offers competitive exchange rates, compared to other banks.
  • CitiBank charges a relatively high, fixed fee of $25 for most international money transfers.
  • Transfers can take up to five days for processing and receipt.

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The money transfer companies that offer the mid market rate are the ones that have the best exchange rate. These companies typically also charge a service fee so depending on how much you are sending, they might not be the cheapest option. Click here to compare the exchange rates, fees and total costs of safe and reputable money transfer companies.


Unfortunately there isn't one money transfer service that is always the cheapest. It really depends on what currency you are sending, how much you are sending and how the person in the other country is going to receive it. To compare your options and find a cheap option, click here.

Using a money transfer service usually involves 3 steps:

  1. Setting up your account. Make sure you have some I.D. handy as most services will ask for something to identify you
  2. Entering the details of the person you are sending the money to
  3. Paying the money transfer service for your transfer

Once you've paid for your international money transfer, the money is sent overseas.

There are several factors that affect how long it takes for money to reach your recipient. It can take anywhere between 2 minutes and 2 weeks but most international wire transfers are completed in 2-3 days. To find out more, click here.

Most online companies do. When you have an account with any of the online money transfer services highlighted above, you can make transfers through their website, or via their iOS Apple and Android apps. However, some are easier to use than others. Click here to learn more about the best money transfer apps.

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By Arlene Mc Donnell Updated July 24th, 2021